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This paper presents the results of an economic study of
farm development in Northland. In this study, records
were collected of 32 dairy farm case histories which had
increased butterfat production by 105% in an average of
6 years, and 18 sheep farm case histories for which wool
production increased 116% over a 7-year period. Also
included are data supplied by the Lands and Survey Department
on the economic outcome of two land development
blocks. In this paper, attention is focused on the cash costs and
benefits of development and their valuation by economic
methods. Nevertheless, the deficiencies of this approach
are recognized, because cash costs and benefits are only one
dimension of the outcome of development and the method
used for valuing this outcome makes assumptions about
the values of the farmer and society.This research was generously funded by the Commercial Rank of Australia
to mark their 100th Anniversary
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